Paxtradings Crypto Minute: May 5, 2018

BMW, GM, Renault, Ford, Consensys And Other Agree To Form Mobility Open Blockchain Initiative (MOBI)

BMW, GM, Renault, Ford, Consensys, Hyperledger, and other companies have agreed to form the Mobility Open Blockchain Initiative (MOBI). According to Business Insider, MOBI is “a consortium that will explore the use of blockchain technologies in the automotive and mobility industries.” Specifically, MOBI is attempting to create common standards and application programming interfaces (APIs). Chris Ballinger is leading the consortium.

The Colorado Department of Regulatory Agencies has accused two companies, Linda Healthcare Corp. and Broad Investments LLC, of violating Colorado’s securities laws. According to the Denver Post, both companies are now responsible for proving why they should not be issued sanctions from the state. The state asserts that Broad Investments is selling a cryptocurrency that represents ownership in the company, while Linda Healthcare Corp. failed to appropriately disclose the risks associated with its cryptocurrency.

UNICEF Concludes Gamer Mining Program for Syria Aid

UNICEF has just ended a program in which the organization recruited professional computers gamers to mine Ethereum on behalf of charities. According to the BBC, gamers donated spare computer processing power to mine Ethereum. Most of the cryptocurrency earned through mining was intended to aid projects in Syria.

Indonesia Considering Blockchain Adoption to Improve Efficiencies In Government and Business Sectors

Indonesia is studying the potential of blockchain technology to store accurate records. According to Reuters, Indonesia has difficulties monitoring and tracking food output and the personal information of its 250 million citizens across 17,000 islands. Indonesian banks are also considering adoption of the technology to increase efficiencies within their business.